Hanoi, Vietnam--(Newsfile Corp. - October 25, 2021) - We're excited to announce that POCOLAND, our NFT-based play-to-earn game, has integrated Chainlink Price Feeds and Chainlink VRF on Binance Smart Chain mainnet. By integrating the industry-leading decentralized oracle network, POCOLAND has access to high-quality, tamper-proof market data needed to get the real-time price of BUSD and BNB for the NFT Marketplace. Now, users can securely purchase characters, equipment, and other items using BUSD and BNB as their collateral, with each transaction backed by highly accurate and reliable conversion rates. Chainlink VRF provides randomness to POCOLAND's in-game breeding mechanism, helping to ensure that each user has a fair chance to mint the rarest Pocos.
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Our initial integration involves the use of the Chainlink Price Feed for BUSD/BNB. We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
The Poco NFT Marketplace is where players can mint and trade assets such as characters, equipment, and other in-game items. Players can trade with one another to create a strong Poco team or sell assets to provide collateral for the chance to mint rare/epic Pocos. Since we wanted our game to be fair for all users, we integrated Chainlink VRF's RNG for provably random minting to help ensure that the rarest Pocos are distributed fairly according to probability.
When developing our NFT marketplace, we needed access to fresh asset prices that are supplied directly on-chain in a highly reliable manner so that our users could purchase items, equipment, and characters with multiple different assets. Moreover, we realized that asset prices should reflect a volume-weighted average from all trading environments so that they were resistant to any single sources of failure. Thus, we needed to make use of a blockchain middleware solution known as an oracle to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.
After reviewing various oracle solutions, we integrated Chainlink Price Feeds because they provide a multitude of critical features such as:
High-Quality Data - Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that's aggregated from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading. Chainlink's data aggregation model generates more precise global market prices that are inherently resistant to inaccuracies or manipulation of any single or small set of exchanges.
Secure Node Operators - Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages.
Decentralized Network - Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or oracle network.
Reputation System - Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.
Overall, integrating Chainlink was a seamless process, and POCOLAND will consider using more of Chainlink's decentralized services in the future as we continue expanding our play-to-earn game.
"Rather than building and maintaining our own market data and randomness solutions, Chainlink provided us with a one-stop infrastructure solution to greatly enhance our platform security and functionality. Chainlink greatly reduces our go-to-market time and saves our team significant developer resources so that we can focus our time solely on building POCOLAND. " - Quan Dang, CEO of Pocoland
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
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Whitepaper: Poco Whitepaper v2.3.pdf
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100708